Primark has cut its sales forecasts after the high street chain’s UK shops were knocked by “cautious” shoppers and unfavourable weather. Parent firm Associated British Foods (ABF) revealed a slump in sales in the UK in recent months amid continued pressure on household budgets.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post and here are your business headlines for today.
00:07Primark has cut its sales forecast after high street chains UK shops were knocked by cautious shoppers and unfavourable weather.
00:16Its parent company, Associated British Foods, revealed a slump in sales in the UK in recent months, amid continued pressure on household budgets.
00:25It told investors that it is targeting low single-digit sales growth for the brand in 2025.
00:31In November, the company said it expected mid-single-digit growth.
00:36ABF's retail business nudged 0.4% lower to £3.36bn for 16 weeks to January 4th.
00:45This was a rise of 1.9% on a constant currency basis.
00:50Here's an update this morning about Primark, which has cut its sales forecast after high street chains UK shops were affected by cautious consumers.
00:59My name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.